Rs 450B Opportunity in Upgrading India's Ageing Office Spaces

11 Apr 2025 CW Team

According to a JLL report released on Friday, across seven top Indian cities, there is a business opportunity worth Rs 450 billion in upgrading and modernising existing office buildings. Approximately 62 per cent of top-quality office spaces in these cities are outdated in some way and need upgrades — over 530.8 million square feet of space.

The outdated quality of these spaces is due to the fact that many of them were built in the first decade of the millennium. Additionally, even upgrades before 2020 are considered to be outdated since technology is advancing at a rapid pace and tenants have more dynamic needs and expectations of their offices.

Of the seven cities — Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune — Bengaluru offers the largest potential, having 155.9 million square feet of office space in need of repair. Although the cost of doing so is estimated to be Rs 144.1 billion. Delhi NCR, Mumbai, and Hyderabad follow Bengaluru as key markets; together they represent 75 per cent of occupier activity in the country and thus need development to keep offices operational. If these properties were to be retrofitted, the owners can expect rental premiums of 15-30 per cent, with some prime locations seeing increases of up to 50 per cent.

Resources

03 Jun 2026

Jyoti Structures Launches Heat Safety Drive Across Sites

Jyoti Structures (JSL) has strengthened heat safety measures across its project sites and manufacturing facilities as temperatures rise across India. The company has implemented a Summer Safety Plan covering all transmission line projects to address risks related to heat stress, dehydration and worker fatigue.The initiative includes rescheduling work away from peak afternoon temperatures, provision of drinking water, ORS and lemon-salt solutions, and installation of rest shelters near work areas. Daily toolbox talks, worker health monitoring, first-aid preparedness, emergency transport arrange..

MHADA Declares 82 Buildings Most Dangerous in Central and South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has declared 82 buildings as most dangerous across Central and South Mumbai and has appealed to residents to vacate immediately. The list, prepared after structural assessments by the authority, identifies buildings judged to pose imminent risk to occupants and to passersby. Local civic bodies have been asked to coordinate evacuations and to make arrangements for temporary shelter and rehabilitation for displaced households. Officials said the authority prioritised buildings with visible structural distress, severe cracking, tiltin..

Damage Reported At Halwara Airport Terminal After First Rains

Severe damage was reported at the terminal of Halwara Airport during the first major rain spell of the season, prompting immediate concern among aviation and local authorities. Images from the site showed water ingress and visible deterioration of the terminal interior, affecting passenger areas and ancillary services. The airport authority suspended certain operations temporarily to assess structural safety and ensure passenger wellbeing. Preliminary inspections have prioritised electrical systems and roof seals to prevent further water ingress. State aviation officials ordered a formal inqui..